#Bitcoin mining rigs on fire sale as cryptocurrencies crash

The continued meltdown in the global cryptocurrency market has forced bitcoin mining hardware suppliers to sell off their machines at fire-sale prices. Canaan Creative, the world’s second biggest maker of cryptocurrency mining rigs, has already put all its Avalon-brand equipment on sale at US$200 per unit, according to company representative Steven Mosher in an email on Friday. “You can think about this [price markdown] as me rescheduling Black Friday by a week,” said Mosher, referring to the annual US shopping event that falls on the Friday after Thanksgiving Day. This year, Black Friday was on November 23. Canaan’s flash sale on Friday, which was first reported by digital currency news site CoinDesk, marked a significant discount program for the Chinese company, which previously sold its most powerful mining rig model – the AvalonMiner 921 – for US$742.Read more: